Cairo – Mubasher: Egypt will issue international treasury bonds (T-bonds) worth between $2 billion and $4 billion in the first quarter of 2018, Egypt’s minister of finance Amr El-Garhy told Middle East News Agency (MENA) on Wednesday.
The Egyptian finance ministry does not intend to issue the international T-bonds in the current year, El-Garhy added.
The government had previously sold T-bonds worth $7 million in two tranches; $4 billion in January 2017 and $3 billion in May 2017.
According to the Central Bank of Egypt (CBE), Egypt posted a 38.2% year-on-year surge in external debt for the first nine months of fiscal year 2016/2017.
Egypt’s external debt reached to $73.88 billion in the period between July 2016 and March 2017 from $53.44 billion in the prior period.
The Egyptian government forecast a $102.4 billion increase in external debt by FY20/21.
